Corbyn Investment Management Inc. MD Sells 2,354 Shares of Rush Enterprises, Inc. (RUSHA)

Corbyn Investment Management Inc. MD lowered its position in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,398 shares of the company’s stock after selling 2,354 shares during the quarter. Rush Enterprises accounts for approximately 1.2% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 29th largest position. Corbyn Investment Management Inc. MD owned approximately 0.21% of Rush Enterprises worth $3,907,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Rush Enterprises by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,939,802 shares of the company’s stock valued at $109,302,000 after purchasing an additional 230,463 shares during the period. Dimensional Fund Advisors LP increased its position in Rush Enterprises by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,570,095 shares of the company’s stock valued at $95,556,000 after purchasing an additional 20,728 shares during the period. Northern Trust Corp increased its position in Rush Enterprises by 7.5% during the 2nd quarter. Northern Trust Corp now owns 989,043 shares of the company’s stock valued at $36,773,000 after purchasing an additional 69,015 shares during the period. JPMorgan Chase & Co. increased its position in Rush Enterprises by 17.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 799,150 shares of the company’s stock valued at $29,712,000 after purchasing an additional 118,386 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in Rush Enterprises by 18.3% during the 2nd quarter. Westfield Capital Management Co. LP now owns 722,639 shares of the company’s stock valued at $26,868,000 after purchasing an additional 111,813 shares during the period. 75.52% of the stock is owned by institutional investors.

Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA) traded down $0.62 during trading hours on Friday, reaching $49.37. The company’s stock had a trading volume of 219,200 shares, compared to its average volume of 219,187. The company has a current ratio of 1.13, a quick ratio of 0.28 and a debt-to-equity ratio of 0.57. Rush Enterprises, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $54.11. The company has a market cap of $1,989.05, a PE ratio of 25.90, a PEG ratio of 1.60 and a beta of 1.20.

Rush Enterprises (NASDAQ:RUSHA) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.25. Rush Enterprises had a return on equity of 8.95% and a net margin of 1.74%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.21 billion. equities research analysts forecast that Rush Enterprises, Inc. will post 2.08 earnings per share for the current year.

RUSHA has been the topic of a number of research analyst reports. BidaskClub cut Rush Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Zacks Investment Research upgraded Rush Enterprises from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a report on Wednesday, October 18th. Buckingham Research initiated coverage on Rush Enterprises in a report on Tuesday, September 5th. They set a “neutral” rating and a $40.00 price target on the stock. ValuEngine upgraded Rush Enterprises from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $38.00 price target on shares of Rush Enterprises in a report on Friday, July 28th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $46.00.

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In related news, CEO William M. Rusty Rush sold 10,906 shares of Rush Enterprises stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $51.24, for a total value of $558,823.44. Following the completion of the sale, the chief executive officer now owns 96,155 shares of the company’s stock, valued at approximately $4,926,982.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Derrek Weaver sold 26,732 shares of Rush Enterprises stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $52.13, for a total value of $1,393,539.16. Following the completion of the sale, the executive vice president now directly owns 14,733 shares of the company’s stock, valued at approximately $768,031.29. The disclosure for this sale can be found here. Company insiders own 11.19% of the company’s stock.

Rush Enterprises Profile

Rush Enterprises, Inc is an integrated retailer of commercial vehicles and related services. The Company operates through the Truck Segment, which includes its operation of a regional network of commercial vehicle dealerships under the name Rush Truck Centers. Through its Rush Truck Centers, it offers services, including retail sales of new and used commercial vehicles, aftermarket parts sales, service and repair facilities, financing, leasing and rental, and insurance products.

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Institutional Ownership by Quarter for Rush Enterprises (NASDAQ:RUSHA)

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